The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-17
doing business as Wiltshire, Eckert
a. Co., against Maurice Rosen-
1eld and Frank Johnson doing

pass on a case on promises 50 900, ,000" The
complalnants assert that they were sold out
without authority and without giving them
an opportunity to put up margins. They
further claim that the funds furnished 20
the firm were not used according to instruc
tlons, and that if they had been SO used, the
firm need not have failed, and the market
would not have been depressed. 1t is also
claimed that the defendants owe Kershaw
q Co. $4,000; also, that they are liable to
repay all money advanced as margins.
Victor w. MacFarlane commenced suit
against B. J. McCleary for $25, 900, and
secured an attachment in the case to protect
him, and B. j. McCleary & Co. confessed
Judgment on note given yesterday to Viii
piece Of preferred paper during the panic
which has yet appeared in court.
AFTER BIG MARGINS.
Mr.. Rosenfeld yesterday began a suit
against Wiltshire, Eckert & Co, for 81 .O0O,-
600 margins, claimed to be in default. The
report that Mr.. Rosenfeld had begun suit
against Mr.. Kershaw is a mistake, and he
has not garnisheed Mr.. Kershaws bank
account
KERSHAw & co. IN HOT WATER.
About II o'clock there seemed to be rush
after the firm Of Charles j. Kershaw & Co.
Watson f. Blair was the first to apply for
an attachment, which he succeeded in get
ting, the amount being 81, 1852. He was fol
lowed by Orr & Comes, who secured an at
tachment for $4,000, and William Linn,
d Co., it is said, were carrying
100000 bushels of cash wheat,
for Mr.. Kershaw, and are probably per-
fectly solvent, but their money is all tied
up. Nobody was willing to take cash wheat
at figure that would btisfy Mr.. Kershaw,
and so Bragart & Go. thought that the
easiest wty out wasS to order their open
trades closed.
GETTING DOWN TO ROCK BOTTOM.
The range in prices in wheat to-day were
very fair indication of the business done.
The range was narrow and the business
extremely light. Most of the firms on
Change were refusing business owing to
the muddied state into which their accounts
have been thrown by the wild fluctuations
and the numerous failures of the last few
days. Several conservative concerns
declared that no more orders
would be executed by them until their books
and accounts had been Strengthened out.
Confidence has not, as yet, been restored,
though it is thought the worst is over, and
that no new failures are imminent. But
one occurred to-day, though several were
crowded quite hard, and it was expected
they would be forced to the wall.
HARD CASH BETTER THAN PROMISES.
The ofterepeated promise of Kershaw g.
Co. that funds would be forthcominz. were
again renewed to-day, but they fell with no
effect on the ears of the crowd. They had
been fed upon promises too long already.
PRICES DURING THE DAY.
July wheat opened at 73c., which was
nc. higher than at the close yesterday
During the whole of the morning session the
price fiuctuated between 723sc. and 1880,
and after the first furry of the morning
was very quiet. June, which was another
of the months which had been under such a
heavy fire, started in unchanged at
Tic and sold as high as 71Hc., and
as low as 71c.. during the morning,
Trade in it was light, and at no time after
the first half hour around the opening vaS
the wheat pit comfortably filed. July
closed at 73c. and June at 7118c. Corn was
quiet, but, as in wheat, there was some show
of returning confidence July opened at
371Sc. and size, against SIC. last night, and
by 1880 o'clock it was selling at
S138c. For the greater part of
the session July "as between
SIC. and 3718c., and its strength, as in
wheat, came toward the close of the morn
ing session. The announcement of John J.
Bryant's failure caused a little weakness
both in wheat and corn, but it was only
temporary. July closed at 373sc. and 37z3c.
Oats showed considerable strength The
new crop deliveries were strength
ened, probably, by the reports of
the dry weather, and under a fair
demand with light offerings there
was about &c advance. Cash and near fu-
lures were also fiImer, but for these the i'm
proven1ent was not so marked. July opened
at 25J6c. and closed at 262sc Provisions
were only moderately active. The course of
lard and ribs was about the same as in corn.
July lard started at 81 80 and sold down
to S6 40, and then back to So SO,
closing at Sc 5219. July ribs opened
at 81 37% and sold down to 81 30,
and back again to 81 3215, and closed at
81 531G.
KERSHAw DEALS RUIN TO ALL
MINNEAPOLIS, June 16-Griffiths, Mar
shall q Co, brokers of this city, have sus-
pended. They acted as Kershaw & Cos:
agents here and at Duluth. They have paid
out 100000 during the past two days and
have met all claims but it took every cent
of their capital H. p Smith also suspend
ed with liabilities of $4,000.